An insurance company may provide payments to an insured in connection with an insurance claim. For example, an insurance company might provide payment of $10,000 to an insured in connection with an insurance claim associated with an automobile accident. In some cases, the insurance company may potentially be entitled to recover some or all of the payment from another party (e.g., one or more other insurance companies). Note that amount of such a potential, referred to herein as the “subrogation potential” of an insurance claim, may vary based on the circumstances associated with the accident. For example, if the insured was in a parked car when the accident occurred, there may be a high likelihood of determining which party was at fault in the accident, and the subrogation potential of such an insurance claim may be relatively high (e.g., that particular claim may represent a good opportunity for the insurance company to recover some or all of the loss). In contrast, if the insured was changing lanes when the accident occurred, it may be much less likely that a definitive determination of fault can be made, and the subrogation potential of the insurance claim may be relatively low.
The subrogation potential of insurance claims can also be influenced by other factors. For example, a statute of limitations may impact the subrogation potential of an insurance claim (and the time period associated with the statute of limitations can vary depending on where the accident occurred). Similarly, different states have different negligence rules that might alter the subrogation potential of insurance claims.
Note that an accurate determination of subrogation potential may be very valuable to an insurance company. For example, tens of thousands of insurance claims may have potential value that could be recovered from other insurance companies. It may be impractical, however, to have employees investigate and follow-up on each and every insurance claim. Thus, employees may instead review insurance claims manually to identify those with the highest subrogation potential (and only those insurance claims may be pursued). Manually determining subrogation potential, however, can be a time consuming and error prone task (e.g., because of the different types of accidents and/or jurisdictions that may be involved with different insurance claims).
It would be desirable to provide systems and methods to screen insurance claims to identify subrogation potential in an automated, efficient, and accurate manner.